Business Related to Forced Liquidation for Insufficiency of Margin
Updated on Dec 05,2013
(1)Before opening, the Exchange confirms member’s funds and issues the “Notice on Forced Liquidation”.
(2)After closing, relevant member shall close out position on its own at first to the extent that requirements on liquidation are met. The execution results will be reviewed and approved by the Exchange:
(3) Should member top up funds within the stipulated timeframe, the Exchange will issue the “Notice on Termination of Forced Liquidation”;
(4)Should time limit for forced liquidation by member on its own be exceeded, direct forced liquidation will be imposed by the Exchange upon the rest positions;
(5)After forced liquidation was imposed, the execution results will be recorded and archived by the Exchange.
(6)Results of forced liquidation will be delivered together with records of concluded deal of the day, so that relevant member is able to get them via member service system.